COMPOSITION: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
COMPOSITION
Largest movements
- Stocks and contracts -€12,579
down €12,579 (-10.9%), from €115,247 to €102,668
- Tangible fixed assets -€7,639
down €7,639 (-20.4%), from €37,398 to €29,759
- Cash +€4,965
up €4,965 (+14.0%), from €35,565 to €40,530
mainly Current portion of long-term debt (+€12,598) and Stocks and contracts (+€12,579)
- Deferred charges and accrued income -€2,133
down €2,133 (-74.6%), from €2,859 to €726
- Tax, wage and social debts -€24,309
down €24,309 (-77.3%), from €31,466 to €7,157
of which Taxes: -€20,925
- Current portion of long-term debt +€12,598
up €12,598 (+105.9%), from €11,899 to €24,497
- Reserves +€12,514
up €12,514 (+86.5%), from €14,468 to €26,982
- Other debts -€6,782
down €6,782 (-8.5%), from €79,331 to €72,549
- Trade debts -€5,150
down €5,150 (-41.7%), from €12,344 to €7,195
- Gross operating margin +€31,934
up €31,934 (+48.3%), from €66,105 to €98,039
- Write-downs +€31,534
new in 2024: €31,534
- Staff costs -€11,673
down €11,673 (-49.2%), from €23,719 to €12,046
- Financial charges +€8,340
up €8,340 (+134.8%), from €6,185 to €14,525
- Taxes +€4,334
up €4,334 (+45.4%), from €9,551 to €13,885
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,952 | €182,451 | -€18,501 | -9.2% |
| Fixed assets | 21/28 | €45,220 | €37,041 | -€8,180 | -18.1% |
| Intangible fixed assets | 21 | €7,562 | €7,022 | -€540 | -7.1% |
| Tangible fixed assets | 22/27 | €37,398 | €29,759 | -€7,639 | -20.4% |
| Land and buildings | 22 | €17,153 | €13,999 | -€3,155 | -18.4% |
| Plant, machinery and equipment | 23 | €5,843 | €4,446 | -€1,397 | -23.9% |
| Furniture and vehicles | 24 | €4,269 | €2,841 | -€1,428 | -33.4% |
| Leasing and similar rights | 25 | €1,365 | €585 | -€780 | -57.1% |
| Other tangible fixed assets | 26 | €8,769 | €7,889 | -€880 | -10.0% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €155,732 | €145,411 | -€10,322 | -6.6% |
| Stocks and contracts in progress | 3 | €115,247 | €102,668 | -€12,579 | -10.9% |
| Stocks | 30/36 | €115,247 | €102,668 | -€12,579 | -10.9% |
| Amounts receivable within one year | 40/41 | €2,062 | €1,487 | -€575 | -27.9% |
| Trade receivables | 40 | €2,062 | €230 | -€1,832 | -88.8% |
| Other amounts receivable | 41 | - | €1,257 | +€1,257 | |
| Cash at bank and in hand | 54/58 | €35,565 | €40,530 | +€4,965 | +14.0% |
| Deferred charges and accrued income | 490/1 | €2,859 | €726 | -€2,133 | -74.6% |
| Total equity and liabilities | 10/49 | €200,952 | €182,451 | -€18,501 | -9.2% |
| Equity | 10/15 | €52,889 | €65,402 | +€12,514 | +23.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €14,468 | €26,982 | +€12,514 | +86.5% |
| Distributable reserves | 133 | €14,468 | €26,982 | +€12,514 | +86.5% |
| Profit (loss) carried forward | 14 | €17,960 | €17,960 | = | 0.0% |
| Amounts payable | 17/49 | €148,064 | €117,049 | -€31,015 | -20.9% |
| Amounts payable after more than one year | 17 | €10,520 | €5,651 | -€4,868 | -46.3% |
| Financial debts | 170/4 | €10,520 | €5,651 | -€4,868 | -46.3% |
| Amounts payable within one year | 42/48 | €137,544 | €111,397 | -€26,147 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €11,899 | €24,497 | +€12,598 | +105.9% |
| Trade debts | 44 | €12,344 | €7,195 | -€5,150 | -41.7% |
| Suppliers | 440/4 | €12,344 | €7,195 | -€5,150 | -41.7% |
| Advances received on contracts in progress | 46 | €2,504 | - | -€2,504 | |
| Taxes, remuneration and social security | 45 | €31,466 | €7,157 | -€24,309 | -77.3% |
| Taxes | 450/3 | €28,081 | €7,157 | -€20,925 | -74.5% |
| Remuneration and social security | 454/9 | €3,385 | - | -€3,385 | |
| Other amounts payable | 47/48 | €79,331 | €72,549 | -€6,782 | -8.5% |
| Remuneration, social security and pensions | 62 | €23,719 | €12,046 | -€11,673 | -49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,587 | €8,180 | -€407 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €31,534 | +€31,534 | |
| Other operating charges | 640/8 | €4,155 | €3,517 | -€638 | -15.3% |
| Non-recurring operating charges | 66A | - | €2,102 | +€2,102 | |
| Gross operating margin | 9900 | €66,105 | €98,039 | +€31,934 | +48.3% |
| Operating profit (loss) | 9901 | €29,644 | €40,660 | +€11,016 | +37.2% |
| Financial income | 75/76B | €561 | €264 | -€297 | -53.0% |
| Recurring financial income | 75 | €561 | €264 | -€297 | -53.0% |
| Financial charges | 65/66B | €6,185 | €14,525 | +€8,340 | +134.8% |
| Recurring financial charges | 65 | €6,185 | €14,525 | +€8,340 | +134.8% |
| Profit (loss) for the period before taxes | 9903 | €24,020 | €26,399 | +€2,379 | +9.9% |
| Income taxes | 67/77 | €9,551 | €13,885 | +€4,334 | +45.4% |
| Profit (loss) for the period | 9904 | €14,468 | €12,514 | -€1,955 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,468 | €12,514 | -€1,955 | -13.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.